EnLink Midstream, LLC (NYSE:ENLC) Receives $15.40 Consensus PT from Analysts

Shares of EnLink Midstream, LLC (NYSE:ENLC) have received an average recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $15.40.

Several brokerages recently issued reports on ENLC. US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a report on Tuesday, November 26th. Raymond James downgraded shares of EnLink Midstream from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. UBS Group cut shares of EnLink Midstream from a “buy” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a report on Monday, September 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $15.00 target price on shares of EnLink Midstream in a research note on Thursday, November 21st. Finally, StockNews.com assumed coverage on shares of EnLink Midstream in a research note on Tuesday. They issued a “hold” rating on the stock.

Insiders Place Their Bets

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $14.90, for a total transaction of $2,985,077,219.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EnLink Midstream

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its stake in shares of EnLink Midstream by 9.1% in the second quarter. Bank of New York Mellon Corp now owns 13,861 shares of the pipeline company’s stock worth $191,000 after acquiring an additional 1,151 shares during the last quarter. Citigroup Inc. boosted its holdings in EnLink Midstream by 0.6% during the third quarter. Citigroup Inc. now owns 267,761 shares of the pipeline company’s stock valued at $3,885,000 after acquiring an additional 1,473 shares during the period. Sunbelt Securities Inc. grew its holdings in EnLink Midstream by 21.9% in the 2nd quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after buying an additional 1,511 shares during the last quarter. Tidal Investments LLC grew its stake in shares of EnLink Midstream by 9.7% in the third quarter. Tidal Investments LLC now owns 18,315 shares of the pipeline company’s stock worth $266,000 after acquiring an additional 1,623 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of EnLink Midstream by 13.9% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,090 shares of the pipeline company’s stock worth $233,000 after purchasing an additional 1,958 shares during the period. 45.87% of the stock is currently owned by institutional investors and hedge funds.

EnLink Midstream Stock Performance

Shares of ENLC opened at $14.31 on Friday. The stock has a market capitalization of $6.54 billion, a PE ratio of 68.14 and a beta of 2.43. The business’s fifty day moving average price is $14.96 and its 200 day moving average price is $14.31. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. EnLink Midstream has a 12-month low of $11.53 and a 12-month high of $16.40.

EnLink Midstream (NYSE:ENLC) last announced its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). EnLink Midstream had a net margin of 1.96% and a return on equity of 9.51%. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the company earned $0.10 EPS. EnLink Midstream’s quarterly revenue was down 7.9% on a year-over-year basis. Equities research analysts forecast that EnLink Midstream will post 0.51 EPS for the current year.

EnLink Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Friday, November 1st were given a dividend of $0.1325 per share. The ex-dividend date was Friday, November 1st. This represents a $0.53 annualized dividend and a dividend yield of 3.70%. EnLink Midstream’s dividend payout ratio (DPR) is 252.38%.

About EnLink Midstream

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.